The dawn of 2025 marks a pivotal shift in how businesses perceive and manage data. With the official implementation of the Provisional Regulations on Accounting Treatment of Enterprise Data Resources issued by China’s Ministry of Finance, data is no longer just a hidden asset buried in operational costs — it now appears transparently on corporate balance sheets. This regulatory milestone has elevated data to the status of a formal, measurable asset class, unlocking new pathways for value creation through innovation, financing, and trading.
At the forefront of this transformation stands the Shanghai Data Exchange (SDE), which has unveiled an ambitious vision for the future: the Shanghai Roadmap for Data Asset Tokenization. Spearheaded by Liu Xiaoyu, Assistant General Manager at SDE, this initiative introduces a groundbreaking framework — the DCB (Data-Capital Bridge) — designed to integrate data assets into mainstream financial systems through blockchain-powered tokenization.
👉 Discover how data is becoming the new financial frontier
What Is Data Asset Tokenization?
Data asset tokenization refers to the process of converting data assets into digital tokens using blockchain or distributed ledger technology (DLT). These tokens represent ownership rights, usage permissions, or financial claims over specific datasets, enabling them to be securely tracked, verified, and traded across digital platforms.
This transformation allows enterprises to:
- Clearly define and protect data ownership
- Enable traceable and auditable data transactions
- Unlock liquidity by turning static data into tradable assets
Much like stocks or bonds, tokenized data assets can be bought, sold, or used as collateral — but with greater granularity, transparency, and efficiency. As Liu Xiaoyu explains, “Tokenized data could one day trade on open markets just like equities. The token economy driven by data assets will become a new engine for economic growth.”
Core Keywords:
- Data asset tokenization
- Blockchain for data
- Data as an asset
- DCB framework
- Data capital bridge
- Enterprise data value
- Tokenized finance
- Data monetization
Why Tokenization Matters: Unlocking New Financing Avenues
One of the most compelling benefits of data asset tokenization is its potential to revolutionize corporate financing.
Traditionally, companies seeking capital rely on banks, venture capital, or public markets — all involving intermediaries that increase cost and complexity. Data tokenization disrupts this model by enabling direct, peer-to-peer access to investors via blockchain networks.
👉 See how businesses are turning data into funding
Advantages for Enterprises:
- Monetize underutilized data: Turn internal datasets into revenue-generating assets.
- Reduce reliance on traditional lenders: Access global capital without lengthy approval processes.
- Lower financing costs: Eliminate middlemen through decentralized issuance and settlement.
For example, a logistics company could tokenize delivery route optimization data, offering tokens that entitle holders to a share of future profits derived from licensing that dataset. Investors buy in based on projected demand — creating a new form of equity-like investment rooted in real-world data utility.
Benefits for Investors:
- Diversified portfolios: Add data-based assets alongside stocks, bonds, and real estate.
- Fractional ownership: Purchase small units of high-value datasets (e.g., healthcare analytics or consumer behavior models).
- Lower entry barriers: Invest with smaller amounts due to divisible token structures.
This democratization of investment aligns with broader trends in decentralized finance (DeFi), where digital assets are reshaping who can participate in capital markets.
The DCB Framework: “One Bridge, Two Exchanges, Two Axes”
To operationalize this vision, the Shanghai Data Exchange has proposed the DCB (Data-Capital Bridge) architecture — a holistic ecosystem connecting data markets with financial markets.
Key Components:
- One Bridge (DCB): Acts as the central infrastructure linking raw data assets with financial instruments.
Two Exchanges:
- Data Exchange: For trading raw or processed datasets.
- Asset Exchange: For trading tokenized securities backed by data.
Two Axes:
- Technology Axis: Built on blockchain, smart contracts, and encryption for secure tokenization.
- Regulatory Axis: Ensures compliance with accounting standards, privacy laws, and financial regulations.
This multi-layered structure supports end-to-end lifecycle management of data assets — from creation and valuation to securitization and secondary trading.
Through mechanisms like on-chain data provenance, every transaction is recorded immutably, ensuring trust and auditability. Meanwhile, integration with existing financial rails enables seamless movement between digital tokens and fiat currencies.
Building the Ecosystem: From Theory to Practice
The Shanghai Data Exchange isn’t just theorizing — it’s actively building the foundation for a scalable data economy.
1. Research & Expert Collaboration
SDE has convened a think tank of academics, industry leaders, and policymakers to explore critical questions:
- How should data assets be valued?
- What are fair models for收益分配 (revenue sharing)?
- How do we prevent speculative bubbles in data markets?
These insights feed directly into policy recommendations and technical standards.
2. Developing Business Standards
To ensure consistency and compliance, SDE is drafting key guidelines:
- Guidelines for Data Asset Financing (Trial)
- Rules for Data Asset Securitization (Trial)
These documents will serve as blueprints for enterprises navigating legal and operational challenges in tokenizing their data.
3. Infrastructure Development
The backbone of the DCB framework relies on robust technological infrastructure:
- Secure data storage and encryption
- On-chain verification and timestamping
- Interoperability between different blockchains and legacy systems
By establishing trusted protocols for data provenance, access control, and usage tracking, SDE aims to create a standardized environment where businesses can confidently tokenize and trade data.
Global Inspiration: Lessons from Hong Kong’s Tokenization Push
While Shanghai leads in mainland China, Hong Kong is emerging as a global testbed for asset tokenization — offering valuable lessons.
Recent initiatives include:
- An HK$800 million tokenized green bond issued by the Hong Kong government
- A HK$200 million digital structured note launched by BOC International and UBS
- A HK$100 million real estate fund tokenization project by Tai Chi Capital
These projects demonstrate how traditional assets — bonds, equities, real estate — can be digitized for greater liquidity and accessibility. They also validate the feasibility of regulatory-compliant token offerings in a major financial hub.
Liu Xiaoyu notes that these examples “provide crucial references” for advancing similar models with data assets in Shanghai.
Frequently Asked Questions (FAQ)
Q: Can any type of data be tokenized?
A: Not all data qualifies. Only structured, legally compliant, and valuable datasets — such as anonymized consumer insights or industrial performance metrics — are suitable for tokenization. Personal or sensitive information must be protected under strict privacy laws.
Q: How does blockchain ensure data security during tokenization?
A: Blockchain provides cryptographic hashing, immutable ledgers, and decentralized consensus. Even if data is shared, its origin, access history, and usage rights remain verifiable and tamper-proof.
Q: Is tokenized data regulated?
A: Yes. In jurisdictions like China and Hong Kong, tokenized assets fall under financial supervision when they represent investment contracts. Compliance with accounting standards (like the 2025 data asset rules) is mandatory.
Q: Who benefits most from data tokenization?
A: Tech-driven firms with rich datasets — including fintechs, healthcare providers, logistics companies, and AI developers — stand to gain significantly through monetization and financing opportunities.
Q: Can individuals invest in tokenized data assets?
A: Eventually yes. As platforms mature and regulations evolve, retail investors may access fractional tokens representing shares in high-demand datasets.
The journey from invisible data to tangible asset has begun. With frameworks like DCB and growing regulatory clarity, the era of data-driven finance is no longer speculative — it’s structural.
As enterprises awaken to the balance sheet value of their information resources, those who act early will shape the next chapter of digital capitalism.